Hill Company Has Reported the Following Information on Their Income

Question 102

Not Answered

Hill Company has reported the following information on their income statements for the years 2008 through 2012:
20122011201020092008 Net Sales $11,332$11,862$11,170$11,038$9,932 Cost of Goods Sold 7,8158,3218,1917,7106,892\begin{array} { l r r r r r } & \underline { 2012 } & \underline { 2011 } & \underline { 2010 } & \underline { 2009 } & \underline { 2008 } \\\text { Net Sales } & \$ 11,332 & \$ 11,862 & \$ 11,170 & \$ 11,038 & \$ 9,932 \\\text { Cost of Goods Sold } & 7,815 & 8,321 & 8,191 & 7,710 & 6,892\end{array} A.Compute the gross profit percentage for each year.
B.Has the gross profit ratio for Hill improved over time or worsened? Explain your answer.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents